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Metals and Mining

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  • WASHINGTON, June 29- The Supreme Court on Monday dealt a blow to a sweeping U.S. air pollution regulation aimed primarily at curbing emissions of mercury from coal-fired power plants by ruling that the Obama administration wrongly failed to consider compliance costs. "EPA is disappointed that the court did not uphold the rule, but this rule was issued more than...

  • ST. PAUL, Minn.— Environmental advocates trying to stop a proposed copper-nickel mine in northeastern Minnesota launched an ad campaign on Monday aimed not at the company behind the project but at Gov. In a statewide ad expected to begin airing this week, the group shows video of a massive spill of mining waste in Canada and calls on Dayton to reject the mine's waste...

  • Coal stocks rise on Supreme Court emissions ruling Monday, 29 Jun 2015 | 11:31 AM ET

    Shares of Consol Energy Inc. rose 2 percent to $22.83; Alpha Natural Resources Inc. rose 4 percent to 34 cents; Peabody Energy Corp. and Arch Coal Inc. jumped 9 percent. Walter Energy Inc. spiked 23 percent to 24 cents. Utilities also picked up steam, with Southern Co. gaining 48 cents to $42.38, Duke Energy Corp. up 56 cents to $71.56 and NextEra Energy Inc. up 62...

  • *Copper steady after China central bank cuts rates. LONDON, June 29- Nickel prices hit their lowest in six years on Monday, falling in response to stubbornly high stockpiles and risk aversion over the Greek debt crisis, while copper steadied on hopes that China's economy is levelling out. The dollar rose against the euro, while global equities and commodities such...

  • LONDON, June 29- Trading house Trafigura has sold half its stake in three Spanish copper and zinc mines to Abu Dhabi investment company Mubadala as part of a joint venture they are setting up to invest in base metals mining, the companies said on Monday. Sources close to the deal said it valued the mines business at around $1.4 billion, meaning Mubadala would be...

  • *Copper steady after China central bank cuts rates. LONDON, June 29- Nickel prices broke below $12,000 a tonne to hit their lowest in six years on Monday after sliding on rising stockpiles and risk aversion over Greece, while copper steadied on hopes that China's economy is levelling out. The dollar rose against the euro, while global equities and commodities such...

  • BEIJING, June 29- Northern China's Hebei, the country's biggest steelmaking province, produced 16.11 million tonnes of the material in May, down 2.4 percent on the year, hit by weak underlying demand and a seasonal construction downturn. China's Ministry of Industry and Information Technology is about to release details of a plan to curb nationwide capacity by...

  • Potash Corp and K+ S have both acknowledged the bid publicly but have disclosed no other details. Potash Corp, however, intends to keep K+ S's German mines operational, would not divest its market-leading salt business, and would continue with the development of a $4 billion legacy mining project in Canada, the people said on Sunday. Potash Corp also views K+ S's...

  • June 26- Mining firm Rio Tinto Ltd has pledged to invest at least $250 million to $300 million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia's prime minister said on Friday. The second phase of construction at the mine is expected to begin this year, Prime Minister Chimed Saikhanbileg...

  • LIMA, June 26- Southern Copper Corp hopes to reach an agreement with angry neighbors of its planned $1.4 billion Tia Maria mine in Peru, and end deadly protests in time to begin construction of the project before the end of 2015, the company's chief executive said on Friday. In mid-May, Southern Copper, which is controlled by Grupo Mexico, announced a 60- day formal "...

  • *Gold hits lowest since June 5, focus on Greece. *Palladium slides to near 2- year low at $666.82/ oz. LONDON, June 26- Gold slid to three-week lows on Friday as the euro slipped against the dollar on caution ahead of crunch talks on Greece this weekend, with concerns over the longer-term outlook for the metal also weighing on prices.

  • FRANKFURT, June 26- Shares in German potash miner K+ S leapt almost 40 percent on Friday after a takeover proposal from Canada's Potash Corp which sources close to the matter said was worth more than 7 billion euros. K+ S believes Potash Corp wants to take capacity out of an over-supplied market to boost its profitability, the sources said, adding the Canadian firm...

  • LONDON, June 26- Shares in London- listed platinum producer Lonmin dropped to their lowest level in 3-1/ 2 months on Friday, after an inquiry into the killing of 34 miners during a 2012 strike put some of the blame on the company. Lonmin, the world's fourth-largest platinum producer by market value, was at the center of the 2012 strike which saw the "Marikana massacre,"...

  • Embattled miner Atlas Iron back from near-death Thursday, 25 Jun 2015 | 11:35 PM ET
    Embattled miner Atlas Iron back from near-death

    David Flanagan, managing director of Atlas Iron, discusses the state of the company after shareholders voted in favor of a $180 million capital raising and outlines when it will return to full production.

  • June 25- German potash producer K+ S said on Thursday it has received a takeover proposal from larger Canadian rival Potash Corp of Saskatchewan Inc, starting a new takeover saga in the fertilizer industry. Potash Corp would not comment. In 2010, Potash Corp itself was the target of a $39 billion hostile bid from global mining giant BHP Billiton.

  • LONDON, June 25- British officials on Thursday rejected a Cuadrilla Resources application for shale gas fracking in northwest England, a landmark decision that is likely to deter potential investors in Britain's nascent shale gas industry. The company's project at Roseacre Wood near Blackpool could have become one of Britain's first shale gas production...

  • LUSAKA, June 25- Zambia has asked Vedanta Resources' Konkola Copper Mines to delay the processing of copper concentrate it imported from Chile until it puts in place safety measures to avoid pollution, Zambia's deputy minister of mines said on Thursday. KCM said on June 3 it had imported its first semi-processed copper from Chile to ensure its Nchanga smelter...

  • *Copper stocks falls do not indicate real demand- analyst. LONDON, June 25- Copper prices slipped on Thursday in volatile trade, hit by an impending slowdown in summer demand and fears of a Greek debt default that could hit the euro zone economy and related metals demand. Greece and its creditors will not reach an aid-for-reforms deal at a European Union summit on...

  • LONDON, June 25- Copper prices slipped on Thursday in volatile trade, hit by a looming slowdown in summer demand and as concerns over a potential Greek debt default dimmed prospects for the euro zone economy and related metals demand. Greece's international creditors will put their final proposal for a cash-for-reform deal to euro zone finance ministers for...

  • METALS-Copper falls as Greece uncertainty persists Thursday, 25 Jun 2015 | 7:01 AM ET

    LONDON, June 25- Copper fell on Thursday in volatile trade, weighed down by a looming summer demand slowdown and as concerns over Greece weighed on the economic picture and related metals demand. Greece's international creditors have given Athens an ultimatum to come up with a new, workable proposal of reforms to unlock new funding and avert a fast approaching...